The direct debit procedure LSV+ will be discontinued on 30 September 2028. TWINT is stepping up to offer billers a product that will reimagine the direct debit procedure in digital and modern fashion – true to the TWINT style.
TWINT has democratised mobile payments in Switzerland for both users and merchants, making them accessible and mainstream compatible in the process. It is now aiming to bring about the same transformation in the areas of direct debit and billing. With the discontinuation of the existing direct debit procedure LSV+ at the end of 2028, billers in Switzerland require a successor solution to automate the collection of payments. TWINT will meet this need by developing its own solution that combines the benefits of mandate-based account debiting with the simplicity of the TWINT ecosystem for both merchants and customers. This will give rise to a new and future-proof generation of the direct debit procedure.
The product will be available on the market in good time prior to the discontinuation of the traditional direct debit variants. It is to be designed to meet the expectations of traditional direct debit customers in an inclusive manner, while also addressing the needs of demanding digital natives. Merchants and users can therefore look forward to a modern product that combines the familiar benefits of the direct debit procedure with the intuitive, digital user experience of TWINT. In developing the product, TWINT is to bring a modernisation of the direct debit category to the market that makes digital payments even more intuitive and modern for all parties in the Swiss ecosystem.